HBL Microfinance Bank partners with SCO to establish STP in Skardu

ISLAMABAD: HBL Microfinance Bank (HBL MfB) has announced its partnership with Special Communications Organisa-tion (SCO) to establish and operate the first-ever Software Technology Park (STP) in Skardu, Gilgit-Baltistan. HBL Microfinance Bank has extended its support of Rs 15 million to this cause.

The STP Skardu has shown promising results in its pilot launch phase, generating revenue of Rs 2 million from IT companies operating from the STP and providing employment to 60 individuals. Both organisations are excited for the next phase to tap into its maximum potential.

This partnership is not the first stint between the two organisations as they continue to work together on other fronts as well. By extending this support, HBL MfB would like to usher in a new era of working with SCO for the betterment of the Gilgit-Baltistan region.

“We are delighted to partner with SCO in establishing the first-ever Software Technology Park in Skardu. We believe this initiative will not only boost the IT industry in the region but also create job opportunities for the local population, and we look forward to playing a role in this regard,” said Muhammad Amir Khan, CEO & President, HBL Microfinance Bank.

“We are delighted to partner with HBL Microfinance Bank to establish and operate the first-ever Software Technology Park of Skardu.

This partnership represents a significant step towards promoting the technology sector in Pakistan’s northern region and supporting local communities through increased employment opportunities.

The success of the pilot launch phase of STP Skardu has been encouraging, and we are confident that with HBL MfB’s support, we can unlock its maximum potential,” said Major General Muhammad Shahid Siddeeq, Director General, SCO.

Copyright Business Recorder, 2023